Six London music venues at risk of ‘imminent’ closure November 11, 2020 The music industry has launched a crowdfunding campaign to help secure the future of six grassroots venues in London that are in “imminent” danger of permanent closure. Kings Cross nightclub Egg, Islington favourite The Lexington and Camden’s Spiritual Bar have been named among the capital’s music hotspots that are most at risk of closure. The [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 11, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. Read more: Snakes [...]
How does a vaccine affect investment sentiment in the Square Mile? November 11, 2020 Pharmaceutical giant Pfizer and German manufacturer BioNTech said on Monday they had reached a breakthrough in the development of their Coronavirus vaccine. Analysis so far suggests that the vaccine is more than 90 per cent effective in preventing Covid-19. Although studies are ongoing, the vaccine has already been tested on 43,500 people in six countries, with no major safety concerns being raised so far. Despite Boris [...]
London unemployment rate sees largest rise in a generation November 10, 2020 The number of people out of work in London soared over the summer, with the largest quarterly increase in the unemployment rate in over 30 years. Figures from the Office of National Statistics (ONS) show the unemployment rate in the three months to September rose 1.2 per cent from the previous quarter to six per [...]
90 per cent of UK trade not covered by free trade deals post-Brexit November 10, 2020 Only 10 per cent of all UK cross-border trade will be covered by current free-trade agreements after 31 December, Morning Wire understands. Fifty-two countries currently have free trade deals in place with the UK for the end of the Brexit transition period. These agreements account for only 10 per cent of the UK’s total cross-border [...]
City is in denial about post-Brexit trading: MHA MacIntyre Hudson November 10, 2020 With less than two months until the Brexit deadline, Alison Horner, indirect tax partner at MHA MacIntyre Hudson, believes trading with Europe after Brexit, deal or no deal, will be more challenging than many businesses are currently realise or even willing to admit. “Due to Covid-19 the majority of British companies involved in exporting to [...]
European stocks set for a post Pfizer hangover November 10, 2020 The week started yesterday with an euphoric stock market reaction to the news that Pfizer and Germany-based BioNTech had seen a 90% success rate in a vaccine study. The new record highs for the Dow, S&P 500 and Russell 2000 point to a greater sense of optimism than at any other time this year, Michael [...]
House of Lords defeats Boris Johnson’s controversial Brexit bill November 10, 2020 The House of Lords has rejected Boris Johnson’s controversial Brexit bill that could potentially breach the Brexit Withdrawal Agreement and break international law. Peers voted to remove two clauses from the Internal Market Bill, which deal with the status of Northern Ireland after the Brexit transition period ends on 31 December. The legislation will now [...]
Exclusive: Ex-Labour mayor defects to Tories over Sadiq Khan’s record on crime November 10, 2020 A former Labour mayor of Islington has defected to the Tories and is campaigning for the party’s mayoral candidate after being disappointed with Sadiq Khan’s handling of violent crime in London. Islington councillor Rakhia Ismail, who was mayor of the London council last year, quit Labour in September alleging she had experienced racism within the [...]
Global flight to risk-free income good for London: BNP Paribas RE’s UK chief November 9, 2020 A frantic search among global investors to pump capital in relatively safe investments is increasingly driving allocations across London, according to the CEO of BNP Paribas’ real estate division in the UK. Etienne Prongué, since July CEO of BNP Paribas Real Estate UK, said that a range of recent transactions are clear indicators that foreign [...]